Cozzi Company Is Being Purchased and Has the Following Balance

Multiple Choice

Cozzi Company is being purchased and has the following balance sheet as of the purchase date:
$$\begin{array} { c c c c } \text { Current assets } & \$ 200,000 & \text { Liabilities } & \$ 90,000 \\\text { Fixed assets } & \underline { 180,000 } & \text { Equity } & \underline { 290,000 }\\\text { Total } & \underline { \$ 380,000} & \text { Total } & \underline { \$ 380,000 }\\\end{array}$$ The price paid for Cozzi's net assets is $500,000.The fixed assets have a fair value of $220,000, and the liabilities have a fair value of $110,000.The amount of goodwill to be recorded in the purchase is:

A) $0
B) $150,000
C) $170,000
D) $190,000